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Daily Colombian Equities Bulletin and Fundamentals 1-15-14

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January 15, 2014 ( newswire) The data for retail sales were reported in the US; December 2013 saw a 0.2% increase (MoM), a value higher than the market’s expectation of 0.1%. Markets rallied as the S&P 500 increased 1.08% and the DJIA increased 0.71%.

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LatAm markets: Bovespa in Brazil increased 0.56% and Chilean IPSA index decreased -0.10%. The local COLCAP index closed at 1542.30 pts., equivalent to a 0.18% increase; the total traded volume reached COP 105,002 million (~51 USD MM).

The best performers were PFAvianca Holdings (+5.88%), PF GrupoArgos (+5.27%) and Grupo Argos (+2.78%). On the other hand, the worst performers were Carvajal Empaques (-3.73%), Celsia (-2.22%) and ETB (-1.58%). The most traded shares today were Exito, Ecopetrol and Nutresa.

Grupo Argos informed that they extended the due date, until July 11, 2014, of a USD 94.5 million loan it currently holds with BBVA. According to the press release, this operation does not constitute any additional debt for the company.

The decision to remove the Mayor of Bogota Gustavo Petro, made by the Inspector General, was suspended by the Administrative District Court of Cundinamarca until a final decision has been made on a legal action challenging the disciplinary decision. It’s worth to mention that the District of Bogota is the controlling partner of publicly traded companies EEB and ETB, the latter showing more volatility in reaction to Mayor Gustavo Petro news. However the recent reaction of these companies has been reduced in contrast to the reaction seen in December 9, 2013, when the original announcement of the sanction was made.

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